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E-commerce giant Alibaba Group, which runs Taobao.com, has established a new business offering customers higher investment yields than interest from banks. Alibaba Group, founded in 1999, provides services for Internet users in countries and regions across the world. It announced at the end of 2012 that total transaction volume at the group's online shopping platform Taobao.com exceeded 1 trillion yuan by November, or 5.4 percent of the country's retail sales for consumer goods in 2011.
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  • (Xinhua)2017-08-22 17:00

    An employee scans a quick response (QR) code displayed on Alipay app at a store in Hong Kong. [Photo/VCG]SINGAPORE - Alipay, China's leading cashless payment platform and a subsidiary of Alibaba's related company, Ant Financial, on Tuesday signed a partnership agreement with a Singapore-based digita...

  • By Song Jingli(chinadaily.com.cn)2017-08-21 16:41

    Screenshots from Zhihu app.Taking its "hats off to WeChat Mini Program engineers", Alipay admitted copying some models of WeChat's development files, according to an apology letter posted Friday on the third-party payment's official account on question-and-answer website Zhihu.com.This was in a resp...

  • (Xinhua)2017-08-21 10:04

    Jack Ma, founder and executive chairman of Alibaba Group gives lectures to young entrepreneurs in Nailab. [Photo by Liu Hongjie/chinadaily.com.cn]BEIJING - Jack Ma, the charismatic head of Alibaba, and Ma Huateng, CEO of Tencent, are locked in a tense race to become the richest person in China and A...

  • (Xinhua)2017-08-21 09:55

    Two men chat beside a logo of Alibaba at its headquarters on the outskirts of Hangzhou, Zhejiang province. [Photo/Agencies]XI'AN - China's e-commerce giant Alibaba will set up a northwest headquarters in Xi'an, capital of Shaanxi province, to better support the development of western China and the B...

  • By Cao Yin In Hangzhou(China Daily)2017-08-19 08:42

    China has set up its first court specializing in handling of internet-related disputes in Hangzhou, Zhejiang province, where many technology enterprises are located, amid rapid growth of online purchases and financial activities in the country. The Hangzhou Court of the Internet is responsible for h...

  • By Zhang Jie(chinadaily.com.cn)2017-08-18 14:01

    Two men chat beside a logo of Alibaba at its headquarters on the outskirts of Hangzhou, Zhejiang province. [Photo/Agencies]China's e-commerce giant Alibaba will invest $1.1 billion in Indonesia's largest online marketplace Tokopedia.Previously, the Jakarta-based e-commerce had completed seven rounds...

  • By He Wei In Shanghai(China Daily)2017-08-18 09:23

    The norm of shopping online for everything from daily essentials to big ticket items in China has boosted quarterly sales to all-time high for Alibaba Group Holding Ltd. The world's largest e-commerce operator by transaction volume on Thursday reported its revenue jumped by 56 percent to 50.2 billio...

  • By He Wei In Shanghai(chinadaily.com.cn)2017-08-16 20:31

    Tencent Chairman and CEO Pony Ma Huateng attends 2017 China "Internet Plus" & Digital Economy Summit held in Hangzhou, Zhejiang province, April 20, 2017. [Photo/VCG]Gaming-to-social networking conglomerate Tencent Holdings Ltd reported on Wednesday a solid quarter bolstered by exceptional performanc...

  • By Wu Yiyao In Shanghai(China Daily)2017-08-15 09:23

    Alibaba's four year old Yu'E Bao fund - which in April became the world's biggest money market fund - on Monday cut its maximum holding ceiling for individual investors, in a move analysts said was in preparation for a potential strengthening of rules covering money market funds in China. Tianhong ...

  • By Zhang Jie(chinadaily.com.cn)2017-08-14 13:49

    An employee scans a quick response (QR) code displayed on Alipay app at a store in Hong Kong. [Photo/VCG]Starting Monday, Chinese tourists can pay via Alipay to retailers who have a partnership with Barclays in UK.Chinese expats, students and tourists are expected to spend more than 1 billion pounds...

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